Creation of authority

There is created, with such duties and powers as are hereinafter set forth to carry out the provisions of this subchapter and §§ 15-5-101 - 15-5-106 and 15-5-301 - 15-5-316 , a public body politic and corporate, with corporate succession, to be an independent instrumentality exercising essential public functions, and to be known as the "Arkansas Development Finance Authority". Acts 1985, No. 1062, § 4.00; A.S.A. 1947, § 13-2904. There is created, with such duties and powers as are hereinafter set forth to carry out the provisions of this subchapter and §§ 15-5-101 - 15-5-106 and 15-5-301 - 15-5-316 , a public body politic and corporate, with corporate succession, to be an independent instrumentality exercising essential public functions, and to be known as the "Arkansas Development Finance Authority". Acts 1985, No. 1062, § 4.00; A.S.A. 1947, § 13-2904.